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The Failure of Laissez Faire Capitalism and Economic Dissolution of the West by [Roberts, Paul Craig ]

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Paul Craig Roberts

The Failure of Laissez Faire Capitalism and Economic Dissolution of the West Kindle Edition

by Paul Craig Roberts (Author, Introduction), Ryan McCullough (Illustrator), Hudson Atwell (Editor),

121 ratings

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This very readable book by a distinguished economist, Wall Street Journal editor, and Assistant Secretary of the US Treasury is a major challenge both to economic theory and to media explanations of the ongoing 21st century economic crisis. The one percent have pulled off an economic and political revolution. By offshoring manufacturing and professional service jobs, US corporations destroyed the growth of consumer income, the basis of the US economy, leaving the bulk of the population mired in debt. Deregulation was used to concentrate income and wealth in fewer hands and financial firms in corporations “too big to fail,” removing financial corporations from market discipline and forcing taxpayers in the US and Europe to cover bankster losses. Environmental destruction has accelerated as economists refuse to count the exhaustion of nature’s resources as a cost and as corporations impose the cost of their activities on the environment and on third parties who do not share in the profits. This is the book to read for those who want to understand the mistakes that are bringing the West to its knees.

Length: 190 pages	Word Wise: Enabled	Enhanced Typesetting: Enabled
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Product details

File Size: 681 KB
Print Length: 190 pages
Publisher: Atwell Publishing; 1 edition (February 2, 2013)
Publication Date: February 2, 2013
Sold by: Amazon.com Services LLC
Language: English
ASIN: B00BLPJNWE
Text-to-Speech: Enabled

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Enabled

Word Wise: Enabled
Lending: Not Enabled
Screen Reader: Supported

Enhanced Typesetting: Enabled

Amazon Best Sellers Rank: #673,198 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
- #68 in Comparative Economics (Kindle Store)
- #207 in Comparative Economics (Books)

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121 customer reviews

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Michael T

A Must Read

May 10, 2013

Format: Kindle EditionVerified Purchase

I recommend this book to anyone who wants to understand how we as a society got to where we are now, both economically and politically. This a well documented exposition of how we went from being a democracy to a kleptocracy in the few short decades since Nixon closed the "gold window" in 1971. The wealth is now systematically transferred from the 99.9% to the .1%. Political structures have been implemented to undermine the constitution so the banksters will be able to defend themselves with police and military might should the people get fed up with the ongoing theft. He spends a lot of time documenting how globalization has intentionally off-shored a large portion of manufacturing and other high tech jobs and work visa programs have been implemented so that foreign workers can come in and under cut American workers to improve the profits for corporations. The only segments of the work force that are largely immune are waiters, bartenders, retail clerks, and some health care providers. The informed reader will already be aware of most of these trends, but Roberts provides detail to fill in the blanks on how it has been accomplished so seamlessly, with nary a whimper from the public. They continue to tell us the economy and the jobs picture is improving. What they don't tell us is that the middle class is being gutted and the income disparities continue to widen with each passing year. I think all Americans should read this book as a civic duty.

13 people found this helpful

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MADC

You need to read this book..

May 5, 2014

Format: PaperbackVerified Purchase

As a citizen of a "third world" country, I read this book with great interest. Dr. Roberts made a wonderful job in his description of what is happening and why. We all can see the results of the so called "globalism", but maybe the scheme behind it, is not clear for many of us... Well, Dr. Roberts is crystal clear in his presentation of the problem and its origination. It is a conspiracy not only against "first world" jobs, It is a conspiracy against the middle and working class at a global level. We poor little countries do not even bother to talk about sovereignty,..we had already forgot the meaning of this word...
On the other hand, it is nice to know that big and rich countries can not lecture us about the moral need to fight corruption...they have their own homework to do...

5 people found this helpful

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D. Nickels

Neo-Classical economics RIP

February 26, 2018

Format: PaperbackVerified Purchase

Excellent brief summary of the financialization and offshoring of America.
Destroys the neo-classical ripoff artists that run America and shove fake economic models down the throats of America.
The book also provides a reasonable alternative to the mindless criticisms of the left, the 'we need to go to Nordic Socialism' crowd.
The problem is not Capitalism, the problem is laissez faire Capitalism.

One person found this helpful

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Chiron 24

Run For The Hills!

April 1, 2013

Format: Kindle EditionVerified Purchase

PCR is a great patriot and a "refreshing drink of water" in this waste land of highway robbers who masquerade as honest men! How sad that our predatory species has brought ruin to this world. We are the only species that destroys the environment that supports us. I think it's called greed, and it's a design flaw in our creation, one that will cause our demise.
One thing is for sure, Paul Craig Roberts is The Lone Ranger, but he is totally out gunned! It's time to run for the hills partners, PCR has created the "smoke signals" and it's time to get out of Dodge!

11 people found this helpful

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Louis James

Sobering Assessment

June 11, 2013

Format: Kindle EditionVerified Purchase

This is a thought-provoking, sobering, even pessimistic book -- or maybe just realistic and open-eyed? For someone like myself who is not economics savvy, some of the background is a bit of a stretch -- micro and macroeconomics, and the big names in the field about whom associations should be clear. No matter, the gist of Roberts's argument is clear enough: off-shoring has nothing to do with free trade and has destroyed the economy of the West. The question left in the balance, however, is what now? The forces at work seem insurmountable and the outlook bleak. Germany opting out of the euro (Roberts's suggestion) doesn't help the US. Of course, it's not Roberts's responsibility to solve the mess that has been created, but all the same a ray of light would have been nice. If there's any to be found in the book, it's probably this -- to find a way out, you have to see things clearly. The viewpoint here looks clear enough to me.

3 people found this helpful

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